Milestone payment for NicOx for Zerviate in USA

9 July 2019

French ophthalmic drugmaker NicOx (Euronext Paris: COX) saw its shares rise 3.6% to 5.02 euros this morning, after it revealed receipt of a $3 million milestone payment from US partner Eyevance Pharmaceuticals.

The payment was triggered by the completion of the regulatory and manufacturing activities under NicOx’ responsibility necessary for the final manufacturing milestone payment in preparation for the future launch of Zerviate (cetirizine ophthalmic solution 0.24%; formerly AC-170) in the USA.

NicOx and Eyevance entered into a licensing agreement for Zerviate in the USA in September 2017 in which the French firm agreed to provide pre-launch manufacturing support to Eyevance and was responsible for completing the requisite scale-up activities for the manufacturing of the commercial product and professional samples necessary for the launch. From now on all manufacturing and regulatory responsibilities, together with decisions on launch timing, lie with Eyevance.

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